I have a confession to make.
In May 2021 I made one of the biggest cheques of my blogging career.
I earned $3,531 in a day.
That’s equivalent to 391,587.90 Kenyan Shilling.
And in the same month, I earned $7,398.45 promoting one affiliate program.
Do you know how much $7,398.45 is in Kenyan shillings?
Well, at the time, it was a little over 811,240.04 Kenyan Shilling.
And that’s not all, in the same year I earned $35,483.46 (or 3,890,761.39 Kenyan Shilling) doing just one simple task, promoting Forex affiliate networks.
But how have I been able to stay consistent on the game even when my peers stopped this game to jump to other things?
Well, in this post I will share with you everything you need to know about the top forex affiliate programs; how to join them, and most importantly, how to begin making money as a Forex affiliate.
Before we get there though, let’s introduce affiliate marketing to better understand the process.
So, what is Affiliate Marketing?
Affiliate marketing is the process by which affiliates (you) earn commissions for marketing another person’s or company’s products. In our case, Forex platforms.
The affiliate simply searches for their preferred platform, then promotes that site, and earns a piece of the profit from each sale made.
The sales are tracked via affiliate links from one website to another.
And trust me the process is seamless, transparent and everything works just like magic.
A good example would be a platform like Olymp Trade.
Are they a Forex platform? Yes.
Do they have a Forex affiliate product? Yes.
Can anyone join to make money as an affiliate? Yes.
If you’d like to join the Olymp Trade affiliate program, hold your horses, I will teach you everything that I know about the product.
Before then, let’s answer another very important question.
How Do Forex Affiliate Programs Work?
Because Forex affiliate marketing works by sharing the responsibilities of platform marketing across parties, it manages to leverage the abilities of different people in the spectrum for a more effective marketing strategy while providing contributors with a share of the profit.
For a seamless process, three different parties must be involved:
- A Forex platform with an affiliate program.
- The affiliate or advertiser.
- The consumer/trader.
To better understand the Forex affiliate marketing process and how each individual fits in the bill, let’s discuss each stage or other individual involved in affiliate marketing separately.
A Forex platform with an affiliate program.
Forex platforms with an affiliate arm offer retailers products to market.
The product can be limited to their currency sites or extensions of their other products/subscriptions relating to trading. Or even a combination of all.
While these Forex platforms may not need to actively promote their platforms, they may also choose to be advertisers and profit from the revenue sharing associated with their program.
2. The affiliate or advertiser.
The affiliate can be either an individual or a company that markets the Forex platforms in an appealing way to potential traders.
Simply put, Forex affiliate marketers promote the Forex platforms to persuade potential traders that a specific platform is the best and that they should sign up with it instead of the others.
If potential traders do end up signing up and eventually trading, the affiliate/advertiser/publisher receives a portion of the revenue earned by the Forex platform.
To stand out as a well-respected affiliate and to make good money promoting Forex, stick to a specific audience, preferably a community that already has an interest in the subject matter.
Doing this repeatedly makes you a thought leader in the industry, grows your brand, and helps you or your business create an affiliate that attracts consumers who will be most likely to take action.
3. Potential trader/trader.
Regardless of if a trader knows it, he/she (and his choice to trade/to be persuaded to trade) is the reason for affiliate marketing.
Publishers/affiliate marketers share information about specific Forex platforms with traders/potential traders on social media, blogs, and websites.
When these targeted traders take action, the Forex platform (running the affiliate program) and the affiliate share the profits.
In most cases, the Forex affiliate marketer will choose to place a disclaimer in his campaign to notify traders that if they sign up and trade, he could potentially make money off their trades.
In other cases though, the trader may choose not to say anything at all. And it’s all part of the game.
Either way, if the trading amount is $1 it will never be more for you if you sign up through an affiliate link.
It will stay the same.
How do Forex Affiliate Marketers Get Paid?
While affiliate marketing is a quick and easy way to make money online, it is not all roses and merry for new marketers.
Not everything is as easy as it seems on blog posts.
The answer to how Forex affiliates get paid can get a little complicated in reality.
Not to worry though, we are Joon Online and we’ve done this for three years now.
We know everything about Forex affiliate marketing and we will simplify everything for you.
So how really do Forex affiliate marketers like myself (Kenn Omollo) get paid?
Ideally, there are two popular ways to reward affiliates in Forex marketing.
Cost per Action (CPA)
Forex affiliate marketers who chose this method of remuneration are often rewarded with a one-time referral commission.
Cost Per Acquisition is therefore the fee you (affiliate) receive when the trader you referred opens a trading account with the online broker you are promoting, deposits funds into his trading account, and starts trading.
This commission isn’t standard for all brokers’ affiliate programs.
It may vary depending on your client’s country location.
To ensure that the trader you referred is in fact a qualifying lead, there are strict criteria put in place by the broker.
In most instances, the referred trader must place a minimum deposit and/or complete his first trade.
All CFD and forex affiliate partnership programs differ in their commission plans, qualifying requirements, and commission rates offered to their affiliates.
Should you want to become a CPA affiliate, make sure you go through your broker of choice’s terms for affiliates.
The second and most preferred way of payment in Forex affiliate marketing is the RevShare commission plan.
With RevShare you earn a percentage of your broker’s revenue for the traders you refer.
Also known as “spread share,” revenue share commission plans can vary depending on many factors.
But really, the main reason why this method of earning affiliate commission is so lucrative is, you have a share in all the profits, losses, and sales of your qualified referrals for as long as they are active.
While most affiliates love this type of structure due to its potential for tremendous future gains, it is highly disadvantageous. When all your leads become inactive, you cease making money.
On the brighter side though, the majority of the RevShare plans have a lifetime incentive to them; this means that you can still be earning commissions in future years as long as the trader you referred is still actively trading with the broker.
Why Should You become a Forex Affiliate Marketer in 2022?
While good incentives are the main reasons why most people promote Forex affiliate networks, there are a ton more reasons why you should become an affiliate marketer in 2022.
Works from home.
Interestingly, affiliate marketing is something that anyone can do from any part of the world. You don’t need to be in a specific location daily to make money promoting Forex.
You can work from anywhere.
From home, from the beach, in conference halls; wherever you feel comfortable working from, set up there and begin working.
As a matter of fact, I sometimes work from my phone and I still earn good money promoting forex.
2. Forex Affiliate marketing is cost-effective.
Remember when you wanted to start a car hire business and had to put everything on hold because the bank wasn’t willing to give you credit on such a high-risk venture?
Well, Forex affiliate marketing is different.
If you ask for my opinion, you can even start promoting your preferred broker today with as little as Ksh. 0.
There are no affiliate fees for registration and you definitely don’t need to create a Forex trading software from scratch.
Everything is straightforward and extremely easy to operate.
3. Forex Affiliate Programs Will Earn You Passive Income.
Yes, Forex affiliate marketing is an easy way to make an extra buck while you sleep.
Remember the $1,544.65 I mentioned in the introduction and said I earned in a day?
Well, I actually earned that at night while I was asleep.
I slept with almost Ksh. 0 in my account and woke up $1,544.65 richer the next morning. All thanks to Forex affiliate marketing.
4. Forex Affiliate Marketers Don’t Need Customer Support.
Yes, that’s all true.
You do not have the obligation of dealing with traders.
Once you refer them to a trading platform and they sign up, they become the responsibility of the broker.
If anything you can only throw subliminal shots once in a while (if you have a smiling list) to remind them to take action.
Or to remind them of promotions run by the broker. But really, you do not need customer support. And you definitely are not obliged to talk to them after registration.
5. Forex Affiliate Marketing Offer Convenience and Flexibility.
When you choose to become a Forex affiliate marketer, you choose to become a freelancer.
Do you know what that means?
It means you can forge your own path. You can work when you want and stop when you want.
You can promote whoever you feel comfortable working with and drop the rest of the slack.
Yes, you have the freedom of doing all that.
6. Your earnings are based on your performance.
Have I already mentioned that there are two common ways to earn in Forex?
- CPA earnings.
No matter which way you choose to deal with your broker, you will not earn more if you do not perform well.
Speaking of, in 2018 I had a conversion rate of (38.46%) with one specific broker and only earned $57.31.
In 2019 my conversion rate dropped to (7.62%) and I earned $5,731.87.
Can you guess what my conversion rate was for 2020?
You guessed that right. My conversion rate dropped further to (5.13%) and I earned $35,483.46.
Notice some trend in my earnings?
No matter how low my conversion rates have fallen, I have continued to earn more in revenue.
Which only means one thing, I have become a pro in attracting low-risk, high-profit traders. That’s performance.
7. You can Use SEO to Increase Your Forex Affiliate Conversions and Income.
Yes, I said that.
And I’ll say it again. You need search engine optimization to benefit from any high-paying Forex affiliate program and you won’t achieve that by trying to cheat google.
You have to work hard for future returns.
Make your website visitors have a better experience when they visit.
Do on-page SEO and wait to see how easy it is to get traders signing up through your affiliate link.
Easy Ways to Begin Marketing Forex Affiliate Programs.
To this end, you’ll definitely want to know how to begin promoting Forex platforms.
Become an Influencer for Forex Platforms.
But who is an influencer and how can you become a forex influencer?
An influencer is someone who has: the power to affect the purchasing decisions of others because of his popularity within a specific segment of people, knowledge, position, or relationship with the audience.
If you are an influencer and you check all those boxes, you are in a great position to become a Forex influencer.
Also given that your niche is cut to Forex trading.
Just like in the other methods of promoting Forex, an influencer shares in the profits that they help to create.
To promote Forex as an influencer, try to build a community of traders and begin pushing your affiliate links.
2. Promote Forex Through Your Blog.
While I have already mentioned how much I made with my Forex affiliate program in 2021, I haven’t mentioned how much I have earned overall in the 2 years that I have been an affiliate marketer.
In total, I have earned 7,356,248.45 Kenyan Shilling from my best-performing affiliate partnership.
But how have I been able to make that much money in just two years?
My secrete is, I promote my affiliate links through my blog.
As a blogger though, you will have to work hard to be able to rank for specific keywords organically.
Afterward, you can review the platforms you work with and send back that traffic to the place where your mouth is. To the broker platform.
If you do it right, you will just be as profitable as I am in the long run.
Do you want to learn more about my blogging tricks for affiliate marketing? WhatsApp.
3. Go for Paid Search.
If you want to achieve faster results in affiliate marketing though, go for paid search.
Create contextual ads and pay google to have your ads placed above the rest.
In essence, your ad will look like this on google: –
If contextual ads don’t interest you, go for mobile traffic to attract users through apps, games, and social, teaser and push networks.
Or even through banner ads, native ads, blogger ads, or popunder ads.
It is all paid traffic and by paid I mean it costs to attract a reasonable about of traffic and leads.
The advantage of taking this route is, you will achieve results fast.
Want to learn more about paid traffic, and how to use it to attract Forex Traders to your affiliate links? WhatsApp.
4. Use Large Media Websites to Attract Traders.
An example of such platforms is Facebook, Youtube Messenger, and the likes.
These sites are designed to create a huge amount of traffic at all times.
When all the numbers match up to the owners, the (website owners) will promote products to their massive audience through the use of banners and contextual affiliate links.
Advertising through large media sites offers superior exposure and improves conversion rates, resulting in a top-notch revenue for both the seller and the affiliate.
Tips to help you promote forex affiliate programs with success.
1. Strive to become a thought leader in the Forex Industry.
When you hear the name, Kenn Omollo, what comes to your mind?
To most people, they can already picture Olymp Trade.
Because as an affiliate marketer, I have built a rapport with my audience. In two years I have built an army of traders specific to the Olymp Trade brand.
And because I have consistently put the same exact word out there over time, Olymp Trade; I can easily tailor my campaigns to the Olymp Trade brand thereby increasing my chances of getting new traders and retaining the old ones.
2. Make your marketing efforts personal.
Instead of picking the marketing materials on your broker platform, try something different.
Try to do something that adds value to your prospects. That’s of course besides promoting something that you believe in and care about.
For example, in February 2021 we (Joon Online) have decided to run a contest with a prize pool of $1,500.
Doing this not only separates us from the competition but also shows our traders how much we care to help grow their capital.
Do you want to stand out tall among other affiliates, become personal with your marketing activities?
3. Review the Forex Site that you are promoting.
Search for terms like “Olymp Trade review”, “XM Forex Review” or a review of the Forex platform of your choice, what are the results?
There are thousands of other reviews of the same on the internet.
Meaning there is a lot of competition out there.
Everyone is a guru in their own way.
So how do you ensure you stand out among everyone else?
Leverage your rapport, make your articles personal, use catchy titles, and when do decide to review a platform; make sure you generate detailed, articulate content to improve conversions.
4. Don’t stick to a single promotion tool when you can use thousands of others.
Instead of being content with revenue from your blog, from your social media marketing efforts, from paid ads, or from native ads; try to make so much more out of everything combined.
Do a cross-channel promotion.
Test different marketing strategies to find out the one that converts well with your audience.
After you’ve narrowed it down to that specific method, use it consistently to make the most out of your efforts.
5. Don’t just promote any Forex Platform, do your due diligence beforehand.
Instead of just getting to the field blindly and starting to promote and affiliate products for Forex, do your due diligence.
Find out why the platform you prefer is better than the rest.
Look at review sites to gauge how likely a new trader is likely to sign up.
Of course keeping in mind that no matter how good an affiliate marketer you are, if you don’t choose the best platform to promote; even with so much money and experience you will fail.
And while at it, look for signs that the forex affiliate site you choose pays its affiliate.
Top Forex Affiliate Marketing Trends for 2021
Google Hates Trading
In the yesteryears, we’d easily promote Forex affiliate platforms on google and ads showed in just about any place.
In mid-2018 Google then decided they would no longer serve ads on: –
- Contracts for Difference
- Rolling spot forex
- Financial spread betting
- Binary options and synonymous products
- Cryptocurrencies and related content.
And if you wanted to serve ads for either of these products, you’d need to be certified by Google.
Two years later, everyone is complaining about their ads getting disapproved and to some extent, some ad accounts getting suspended or blocked.
Everyone who depended on google ads or social media ads is on the edge.
Good thing, native ads, popunder ads, push notifications, mobile traffic, teaser ads and blogger ads still work.
2. There is More Competition in Forex Affiliate.
Because almost all brokers have some sort of a reward program for referrals, there has been an increase in new affiliates signing up.
Problem is, most of these new affiliates don’t know anything about affiliate marketing.
So guess what they are doing?
They spam leads with stupid ads and stupid spam links.
Guess what that does to the industry, it makes our industry lose value. And leads to losing trust in the entire process.
Are you a new Forex affiliate struggling with marketing? Seek help.
3. SEO is gaining traction in Forex Affiliate Marketing.
Yes, more individuals and companies who want to increase or maintain their Forex Affiliate Earnings are adopting SEO for success.
Rather than Forex affiliate marketers just jumping in on any easy way that can bring in signups, they are opting for the long way which is to create the much-needed content.
Ask for a quotation for a Forex Affiliate Site. Seek help.
Which affiliate marketing strategies should you use to promote Forex Platforms in 2021?
Only promote Forex platforms you are extremely familiar with.
Instead of just hopping into Forex affiliate marketing or referral programs, try to sign up to have a feel of trading.
Read the ins and outs of any trading platform you choose to go with.
Remember, you can not convert quality traders if your website visitors don’t trust you.
And what better way is there to create trust with your clients than to recommend products/platforms you’ve used and that they’ll feel comfortable using?
If you scroll through this website you will notice that I actively promote the best forex affiliate programs. XM Forex and Olymp Trade.
2. Promote as Many Forex Affiliate Programs as You Can
While you may feel comfortable only promoting one Forex platform, it is a no-brainer that promoting very many different platforms will bag you more money.
Plus, each partner program for Forex has its own set of policies on trading. And hard as it may be to fathom, any partner can block your account when they wish to and there is nothing you will do about it.
At least if the broker is not regulated in your country.
And if you ask me, you don’t want to go a day without earning a dollar, much so if you are used to earning $1000 from your forex affiliate partnership in a day.
3. Constantly test and optimize conversion rates for your Forex Affiliate Program.
Assuming you have a website which you use to drive traffic to your Forex partner’s website if you currently get 128,477 clicks with a 1% conversion rate on registration and a 1.18% conversion rate on traders; then this means that your website registers an average of 1352 traders monthly and you only get 16 traders in a good month.
To get to 32 traders from the same site, you can either focus on getting 1352 more registrations or simply increasing the conversion rate to 2.36%.
Of course, the easier way would be to increase your conversion rate by 100% of the current.
Because let’s face it. If you choose to increase registrations, it may take ages of solid SEO to get things running. And that’s time we don’t have.
Rather, you can decide to optimize your landing page, test your calls-to-action, and/or have a conversion rate optimization strategy in place.
By testing and optimizing your site, you’ll get far better results with much less effort.
4. When Promoting Forex, Not all Traffic is Good Traffic.
Rather than trying to fill your registration bucket with new useless leads seek to know the demographics of your audience.
Going this route will allow you to customize your campaigns so that you can provide the best affiliate product recommendations.
Don’t just focus on the vertical you’re in, but on the traffic sources and audience that’s visiting your site.
Traffic sources may include organic, paid, social media, referral, display, email, or direct traffic.
Plus, from my two years of running affiliate campaigns on my websites, I have learned that traffic from Asian and North American, and African countries perform better than most.
That’s why I curate my content to meet the needs of those countries.
And see the results below.
Do you want to learn how I do this?
My forex affiliate earnings.
Note: – You can view traffic source data in Google Analytics.
Some of the data you will see include: –
- Time on page
- Bounce rate
- Time of day (when this trader visited)
- Devices (mobile vs. desktop),
Among other information, you can focus on high conversion rates.
This analytics data is crucial to making informed decisions, increasing your conversion rates, and ultimately knowing which group to target with your campaigns.
Best paying forex affiliate programs for 2022
- HotForex Affiliate Program
- XM Forex Affiliate Program
- FXTM Forex Affiliate Program
- KingFin Affiliate Program
- IQ Option Forex Affiliate Program
- Expert Option Affiliate Program
- IronFX Affiliate Program
- Admiral Forex Affiliate Program
- Orbex Forex Affiliate Program
- AVA Trade Forex Affiliate Program
Read more about the best Forex affiliate programs, pros, and cons… Here…
And oh, in case you are wondering about the topic, I did earn $1,544.65 in one day with the Kingfin affiliate program. Here’s proof.
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